The residency by investment program has only a few weeks remaining. On April 3, 2025, the golden visa in Spain will be definitively eliminated.
In this post, we explain everything you need to know about this upcoming change.
We analyze the main reasons for its termination, how it will affect you whether you are currently a holder of this residency or plan to apply soon, the alternatives available after its abolition, and other key information you should know.
Current Situation of the Golden Visa in Spain
As of today, the golden visa is still available in Spain, and you can still apply for it.
However, this will change in just a few weeks. In early April 2025, the investor visa will be definitively removed from Spain’s immigration regulations.
This means that after this date, it will NO longer be possible to obtain a golden visa under any of the existing investment categories.
In other words, you will no longer be able to obtain residency by investing in real estate, nor by investing in bonds, Spanish public debt, or company shares.
Therefore, if you want to take advantage of what is perhaps the most beneficial residency program in Spain—allowing you to renew it simply by visiting Spain once a year without becoming a tax resident—it’s best to start your application as soon as possible.
What will happen to current golden visa holders?
If you submit your application before April 3, 2025, you won’t have any issues. Your application will be processed, and you will be able to obtain your investor visa.
So make sure to prepare all your documents and complete file, and submit your application before the cut-off date to avoid losing this opportunity.
On the other hand, if you are already a golden visa holder, you will not lose your residency.
You will still be able to renew your visa as long as you meet the original requirements, such as maintaining your real estate investment.
However, if you obtained your golden visa through investments in business shares, bonds, or Spanish public debt, you will NOT be able to renew your visa. Once your current card expires, your residency will no longer be valid with no further option to renew.
What are my options after the Golden Visa is eliminated?
The golden visa undeniably offers significant advantages, and there is no alternative that provides the same benefits.
Specifically, the golden visa was the only residency permit that could be renewed by visiting Spain just once a year. Other permits require a minimum stay of 183 days in the country for renewal.
While there’s no equally advantageous option, here are two alternatives that might suit your situation:
- Non-Lucrative Residency. This permit requires you to demonstrate sufficient financial resources and obtain private health insurance. However, it does not allow you to work in Spain.
- Digital Nomad Visa. If you work remotely for a foreign company or have international clients, this could be a suitable alternative. It is also regulated under the Entrepreneurial Law and offers quick resolution within 20 days.
Reasons behind the removal of the golden visa
Why has the Spanish government decided to eliminate the golden visa?
The reality is that Spain is currently facing a housing crisis.
Rental costs—particularly in major cities like Madrid and Barcelona—and property prices have risen sharply in recent years. For many Spanish nationals, accessing housing has become increasingly difficult given the average income levels.
In an effort to curb rising prices and minimize real estate speculation, the government has decided to eliminate the golden visa program.
Similarly, the government is considering implementing additional taxes for non-residents who wish to purchase property in Spain, as part of its strategy to stabilize (or even reduce) housing costs.
Furthermore, it’s worth noting that other EU countries, such as Portugal, have already eliminated their residency-by-investment programs. So this decision aligns with broader European Union directives.
Act now to secure your golden visa
As you can see, the golden visa is only available for a few more weeks. Once it is eliminated, obtaining residency in Spain will become much more challenging.
If you want to benefit from this residency program, it’s crucial to act quickly.
At Balcells Group, we can guide you through the entire process, from purchasing property to submitting your application.
Schedule a consultation with one of our lawyers and secure your golden visa in time!
At Balcells Group we have been foreigners effortlessly moving to Spain for over 11 years. We help expats from all around the world with their immigration, business, tax and legal needs; ensuring a legally safe and enjoyable transition to the Spanish territory. Our multilingual team understands the importance of adapting to the cultural and legal specificities of our international clients. We offer a comprehensive service that combines the expertise of several generations of lawyers with the innovation needed to address today’s legal challenges, always striving to simplify processes and ensure reliable, effective results.
